World Economic Outlook

(GS PAPER 3- Liberalization

Source- The Hindu)

 Context

 The International Monetary Fund in April 2021 projected a 12.5% growth rate for India in the year 2021 In its annual world economic Outlook

 It projected that the Indian economy will grow by 6.9 % in 2022

Key points

  • The projected growth rate for India is stronger than that of China,  Which of the only major economy to have a positive growth rate last year during a covid-19 pandemic
  •  With an estimated contraction of 3.3 %  in 2020 the global economy is projected to grow at 6% in 2021 moderating to 4.4% in 2022
  •  This reflects additional fiscal support in few large economies and the anticipated vaccine power data recovery in the second half of the Year

-Khyati Khare

Download Daily Current Affairs of 10th April 2021